CleanSpark Bets Big on AI Compute: Will Diversification Drive Upside?

CleanSpark, Inc. CLSK is redefining its identity, moving beyond Bitcoin mining toward a diversified digital infrastructure model. Management has made 2025 a key time for entry into AI and high-performance computing (HPC), which is a transformation designed to broaden the company's revenue base, improve profitability and unlock sustainable shareholder returns.The key strength supporting this shift is CleanSpark's large 1.3 gigawatts of electricity and land portfolio across the United States, which is becoming increasingly valuable as demand for computing power grows. The company is already putting this advantage to work. It has acquired a 285 MW site in Texas to build an AI campus and has identified a 250 MW site in Georgia that is suitable for AI development. CleanSpark's partnership with Submer further supports this transition.CleanSpark plans to create a “digital infrastructure platform” that taps into the fast-growing demand for AI computing. The company expects AI data centers to deliver steady, high-margin revenues, helping balance the ups and downs of Bitcoin’s cyclical business.CleanSpark’s fiscal 2025 roadmap shows a structured expansion plan through 2026-2028, covering portfolio scaling, large-scale commissioning, tenant diversification and multi-campus development. This strategy comes at an ideal time, with the global HPC market expected to reach $87.31 billion by 2030 from $57 billion in 2024.With hyperscaler interest building and expansion funding secured, CleanSpark’s AI compute strategy appears both timely and strategically sound. The Zacks Consensus Estimate for fiscal 2026 revenues is pegged at $858.9 million, indicating a year-over-year increase of 12.1%.MARA & CIFR Challenge CleanSpark in AI/HPCCleanSpark faces rising competition from Marathon Digital MARA and Cipher Mining Inc. CIFR, both of which are actively building out their AI and HPC capabilities.Marathon Digital is rapidly evolving beyond mining, with the company acquiring a controlling stake in Exaion to accelerate its AI and HPC expansion. This move positions Marathon Digital to scale internationally while leveraging its global data-center footprint and low-cost power access. As the largest publicly traded Bitcoin miner, the company is leveraging strategic acquisitions to accelerate its build-out of AI-ready HPC infrastructure.Cipher is also expanding into AI and HPC by leveraging its low-cost power and fully owned infrastructure, giving the company strong margin control and workload flexibility. With major long-term AI and HPC contracts, notably with AWS and Fluidstack, Cipher now holds billions in committed revenues. By deploying its Texas data-center platform for advanced HPC hosting, Cipher is securing a durable position in high-growth AI infrastructure.CLSK’s Share Price Performance, Valuation & EstimatesShares of CleanSpark have rallied 48.9% year to date against the Zacks Finance – Miscellaneous Services industry’s decline of 7.3%.CLSK’s YTD Price PerformanceImage Source: Zacks Investment ResearchFrom a valuation standpoint, CLSK trades at a forward price-to-sales ratio of 4.05, higher than the industry’s average of 3.18.CLSK’s ValuationImage Source: Zacks Investment ResearchThe Zacks Consensus Estimate for CleanSpark’s fiscal 2026 earnings is currently pegged at 33 cents per share, revised downward by 47.6% over the past 30 days. The earnings figure suggests a 53.5% decline over the figure reported in the year-ago quarter.Image Source: Zacks Investment ResearchCleanSpark currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.See "2nd Wave" AI stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marathon Digital Holdings, Inc. (MARA): Free Stock Analysis Report Cleanspark, Inc. (CLSK): Free Stock Analysis Report Cipher Mining Inc. (CIFR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks